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ALSI Gap

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3JN2
Frequent Contributor
Anyone trading the Gap? I'm just watching.
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32 REPLIES 32
Rams
Super Contributor
entry for gap was 29055...i entered at 29060 at about 9.40
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3JN2
Frequent Contributor
You have to trust the system (Gap trading) but I didn't as it clashed with normal trading system. Too late now to enter.
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3JN2
Frequent Contributor
You have to trust the system (Gap trading) but I didn't as it clashed with normal trading system. Too late now to enter.
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Rams
Super Contributor
yes, so i trade the gap in another account. the engulfing was initially a short(no trade) and the gap was long. Or only trade the gap if coincides with your trending sysytem
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sponono
Super Contributor
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Rams
Super Contributor
yes, high in first 30 minutes was 29005...Simons system...entry 50 points into GAP..
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Rams
Super Contributor
first profit at 29160...100 poits
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SimonPB
Valued Contributor
an out at 190 ..
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3JN2
Frequent Contributor
Well done Rams. He who hesitates is lost.
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Rams
Super Contributor
so the coin was suspended in midair...now for that engulfing candle
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SimonPB
Valued Contributor
an also long from 160 in engulfing candle system ..
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Rams
Super Contributor
yeah , the 12.30 had a 1 point diff between open and close
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3JN2
Frequent Contributor
I find engulfing candles too difficult to trade. Use Simon's 7/21 moving average system - I trust it so it works for me.
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Rams
Super Contributor
u using 7/21 on ALSI futures?
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3JN2
Frequent Contributor
Yes, but avoid trading when market moving sideways. I find system has 60% success rate so I don't trade every 7/21 trigger
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Rams
Super Contributor
so when do you not trade because a sideways market is only retrospective so you could miss some positive trades..or is the timeout part of the rules you set up for the system?
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3JN2
Frequent Contributor
A sideways market to me is when the 7 barely goes up through the 21 and then moves back down through 21 again. These 7/21 movements are too small to trade. Look at 31 May from 12pm to 3.30pm on 5 min chart to see what I mean. You can easily see this siseways pattern at the time and wait for a definite trend. I watch top/bottom patterns, indicators, trends and resistance/support. Entry is on 15 min chart and generally exit on top/bottom pattern or 7/21 on 5 min chart. DonÂ’t use price trading at 21 to exit.
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Terra
Super Contributor
Hindsight!
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3JN2
Frequent Contributor
Yes I know. That's why success rate is only 60%. So what should I watch instead?
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